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<br />! I """,,- <br /> <br />,''', <br />. . <br />'~ <br /> <br />"f <br /> <br />Glenn E, Potzalc <br />Midlllc:ll'. Drowning <br />Richard /'I.. Johnson <br />Ceorge V. 8cJ'C, Jr. <br />SteVen J. Bushong <br />Michael J. Repucci <br /> <br />Porzak Browning Be Johnson UP <br /> <br />ATTORNEYS -AT -lAW <br /> <br />929 Pearl Street. Suite 300 - Boulder, CO 80302 <br />303 443-6800 . Fax 303 44.3-0064 <br /> <br />Will. lIeD K,~,ni_icz <br />Julie ScnoenfQld <br />Kathleen M. MOll:01n <br /> <br />March 3, 1998 <br /> <br />Of Counsel: <br />Neil C. King. P.C. <br /> <br />VIA FACSIMILE 003) 866-4474 <br />Mr. William P. Stanton, P.E. <br />Chief, Planning and Construction Section <br />Colorado Water Conservation Board <br />Denver, CO 80203 <br /> <br />Re: Eagle Park Reservoir Loan <br /> <br />Dear Mr. Stanton: <br /> <br />( <br /> <br />Please be advised that the Eagle Park Reservoir Company expects to close under its <br />agreement with Climax Molybdenum Company for the purchase of the Eagle Park Reservoir, <br />and all related facilities, easements, permits and appUrtenances, in the summer of 1998, <br />provided that all closing contingencies have been satisfied. It is our understanding that <br />$4.0 million of the total amount authorized for the Colorado Water Conservation Board loan <br />to the Eagle Park Reservoir Company for the purchase of the reservoir is from the Severance <br />Tax Trost Fund Perpetual Base Account. for disbursement in ~e fiscal year ending on <br />June 3D, 1998. <br /> <br />As there is the possibility that our agreement 'With Climax Molybdenum may not <br />close until after June 30tb nf this year, we would like to request an amendment to the current <br />cwca legislation, HB98-1189. to extend, the $4.0 million authorization from the Severance <br />Tax Trust Fund Perpetual Base Account for the Eagle Park Reservoir loan to Fiscal Year <br />1998-1999 or to eliminRte the fiscal year restriction. <br /> <br /> <br />cc: Glenn Porzak <br />Dennis Gelvin <br />Richard MacCutcheon <br />Brian Nazarenus <br />Frederick Sackbaucr <br />Peul Tc~idc <br />